S32

1.35%

$3.66 south32 limited

You can read GS report on S32 on commsec if you have that

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ggidd

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26/10/21

16:14

Post #: 57085664
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Originally posted by Ashentegra: ↑

Motley Fool says:

According to a note out of Goldman Sachs, its analysts have retained their conviction buy rating and lifted their price target on this mining giant’s shares to $4.40.

Goldman expects the South32 dividend to be among the most generous on the market in the coming years.

It is forecasting fully franked dividends per share of 32.3 US cents in FY 2022, 34.5 US cents in FY 2023, 34.8 US cents in FY 2024, 32.7 US cents in FY 2025, and 33.4 US cents in FY 2026.

At current levels and exchange rates, this suggests that the South32 dividend yield will be in excess of 11% each year through to at least FY 2026.

Goldman Sachs was pleased with the company’s proposed acquisition of 45% of the Sierra Gorda copper mine in Chile from Sumitomo Corporation.

However, it is worth highlighting that as this transaction has not yet complete, Goldman hasn’t included it in its valuation or estimates.

So with management forecasting it to be earnings accretive, there’s a chance that the broker’s South32 dividend estimates could yet increase if and when the deal completes. Nevertheless, its analysts are very positive on South32 regardless of this.

This is due to its current valuation and strong free cash flow outlook thanks to strong prices for commodities such as aluminium and alumina. It expects this to underpin the aforementioned generous dividend payments over the coming years.

_________

Ash here.

I'd rather read the GS analysis than MF's interpretation. Anyone with GS access care to share. Thanks in advance.

Ash

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You can read GS report on S32 on commsec if you have that

S32 Price at posting: $3.72 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $3.66		Change -0.050(1.35%)		Mkt cap ! $16.57B

Open	High	Low	Value	Volume
$3.73	$3.73	$3.60	$56.87M	15.57M

Buyers (Bids)

No.	Vol.	Price($)
7	348810	$3.65

Sellers (Offers)

Price($)	Vol.	No.
$3.66	22679	3

View Market Depth

No.	Vol.	Price($)
3	56863	3.640
4	20418	3.630
5	24323	3.620
5	40388	3.610
5	22733	3.600

Price($)	Vol.	No.
3.660	8000	1
3.680	44318	4
3.690	19618	2
3.700	64418	2
3.710	14418	1

Last trade - 16.10pm 28/06/2024 (20 minute delay)

S32 (ASX) Chart

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